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sertanlavr [38]
3 years ago
9

On December 15, 2016, the board of directors of Cross Corporation declared a cash dividend, payable on January 8, 2017, of $0.94

per share on the 2,000,000 common shares outstanding. On December 15, 2016, Cross Corporation should:__________.a. not prepare a journal entry because the event had no effect on the corporation's financial position until 2017.b. decrease cash $1.88 million and decrease retained earnings $1.88 million.c. decrease retained earnings $1.88 million and increase expenses $1.88 million.d. decrease retained earnings $1.88 million and increase liabilities by $1.88 million.
Business
1 answer:
pentagon [3]3 years ago
6 0

Answer:

d. decrease retained earnings $1.88 million and increase liabilities by $1.88 million

Explanation:

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On November 1, 2018, Nada, Inc. declared a dividend of $5.00 per share on common stock. Nada, Inc. has 20,000 shares of common s
katrin2010 [14]

Answer:

The correct answer is Option B.

Explanation:

Dividend is simply synonymous to a profit from stockholder's investment (usually in form of shares). Dividend is usually declared when the company that the stockholder invests in is performing well.

On November 15 when the dividend declared was recorded, the following journals would have been recorded:

Debit Retained earnings ($5 x 20,000)           $100,000

Credit Dividend payable                                   $100,000

<em>(To record declaration of dividend)</em>

However, when it became payable on November 30, 2018, the dividend payable account has to be debited as follows:

Debit Dividend payable                                    $100,000

Credit Cash                                                        $100,000

<em>(To record dividend paid to stockholders)</em>

6 0
3 years ago
The sales manager is convinced that a 11% reduction in the selling price, combined with a $65,000 increase in advertising, would
Zarrin [17]

Answer:

net income increase of 11.25%

Explanation:

If the price p is reduced a 11% means that new price will be p(1-0.11)

New price = 0.89p

The new quantities demandes will increase a 25%, this means that the new quantities will be Q*(1+.025) = 1.25Q

So, the net income under this new circunstances will be

1.25 Q * 0.89P = 1.1125 P*Q

This means a net income increase of 11.25%

8 0
3 years ago
True or false: The National Cancer Society is an example of an organization that does not need to use marketing.
Ipatiy [6.2K]
False i believe is the correct answer,
7 0
2 years ago
You decide that as soon as you are financially able, you will hire an agency to put together an advertising plan for you. Unfort
Bumek [7]

Unfortunately, you realize that even if you do hire an agency, you will still have to provide the agency with statements regarding <u>the value proposition and the marketing mix.</u>

<u>Option: A</u>

<u>Explanation:</u>

The marketing blend consists essentially of four components. These are: Position, Price, Promotion and Product. The availability of the market differs among the firms relying on how each company chooses on the proportions of the 4 Ps listed herein.

A firm's Quality Proposal is the mix of advantages or principles that consumers are offered to improve their own lives. Organizations typically aim to build a good value proposition that will provide them the maximum competitive advantage over their rivals.

7 0
3 years ago
What tax applies to investments and other personal property?
shusha [124]
This one would be IRS. 
For example, if<span> you end up paying for personal property taxes to your local government, the IRS would allow you to claim a deduction for it on your federal tax return~</span>
8 0
3 years ago
Read 2 more answers
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